-- Diluted net income per share increased to $0.10, which would have been
$0.01 higher had we excluded the CCSS acquisition (or $0.11); for the
full year 2007, diluted net income per share was $0.29.
-- New bookings increased to $39.2 million, an increase of 42.5%; for 2007
new bookings were a record $138.6 million.
-- Backlog increased to $140.2 million as of December 31, 2007 (including
the CCSS acquisition), an increase of 45.4% from the prior year.
The Company reported net income of $5.2 million for the fourth quarter of 2007, a 129.9% increase from $2.2 million in the fourth quarter of 2006. Diluted net income per share was $0.10 in the fourth quarter of 2007 (which was negatively affected by the CCSS transaction by $0.01), compared to $0.04 in the fourth quarter of 2006.
"We feel that the fourth quarter was a very successful one -- we recorded the highest level of net revenues in eRT's history, increased net income by 129.9%, recorded a near record level of new bookings, processed the highest number of ECG transactions in eRT's history and completed the acquisition of CCSS," said Dr. Michael McKelvey, President and CEO of eRT. "For the year, we grew net revenues by 14.3% and the bottom line by 83.5%, demonstrating the leverage of our operating model. We also recorded the highest level of new bookings in eRT's history. The CCSS integration is moving along as planned and will be an important factor in our long-term growth."
For the full year ended December 31, 2007, the Company reported net
revenues of $98.7 million compared to $86.4 million for the full year ended
December 31, 2006, a 14.3% increase. The Company's gross margin percentage
for 2007 was 50.7% compared to 48.4% for 2006. Pre-tax income percentage
for 2007 was 24.8% compared to 15.3% for 2006. The Company reported net
income of $15.3 million, or $0.29 per diluted share, for 2007 compa
|SOURCE eResearchTechnology, Inc.|
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